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Qualcomm reported record revenues of $11.7 billion for its fiscal first quarter, surpassing expectations, driven by strong demand in China and gains with Samsung in the handset market. Analysts expressed concerns over the impact of tariff risks and the expiry of its licensing agreement with Huawei, leading to varied price targets among firms. Despite these challenges, the company remains optimistic about future growth in non-handset revenues, particularly in automotive and IoT sectors.
Barclays has raised its price target for Apple Inc. to $197 from $183 while maintaining an Underweight rating, citing strong Services and Mac sales that offset weaker iPhone revenue. Despite solid financial health, concerns linger over the Chinese market and regulatory challenges. Other analysts have varied perspectives, with price targets ranging from $225 to $290, reflecting differing views on Apple's future performance and market dynamics.
The Dow Jones Industrial Average closed lower for the ninth consecutive session, marking its longest losing streak since 1978, as investors await the Federal Open Market Committee's interest rate decision. Despite a mixed economic outlook, a rate cut is expected, with a 95.4% probability of a 25 basis point reduction. Apple and Tesla stocks are on the rise, with Apple reclaiming its title as the world's largest company and Tesla experiencing significant gains post-election, driven by optimistic projections for future growth.
Samik Chatterjee
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
qualcomm reports record revenue amid analyst concerns over tariffs and huawei
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